According to Scott Shields, Americans spend billions of dollars on cleaning products. That’s why he and his fiancé Mona Weiss, created an eco-friending line that sells soap nuts. Will they earn a deal on
Shark Tank Eco Nuts Update
- Entrepreneurs: Mona Weiss and Scott Shields
- Business: Eco-friendly cleaning products
- Ask: $175,000 for 15% equity
- Result: No deal
- Shark: None
Mona and Scott appeared on
Unfortunately, Scott slipped up early on by alleging that the soapnut industry was worth $1 million and that Eco Nuts had “90% of the market.”
This led Daymond John to believe that Eco Nuts had $900,000 in sales, which Scott confirmed they did not. The sales were reasonable with $100,000 in the first year, and a projected $250,000 for that year, but far from $900,000.
This mistake would haunt Scott for the rest of the pitch.
Kevin O’Leary, in true Mr. Wonderful fashion, asked what was stopping other companies from knocking off Eco Nuts. Mona replied that they used a proprietary sterilization process that made their product safer and more effective.
Unfortunately, the packaging and promotional materials did not mention this.
Kevin spoke next, saying he could not wrap his head around the valuation, and he’d “have to own the whole company” for it to be investable in his eyes. For that reason, he was out. Daymond John accused Scott of not knowing his numbers and dropped out.
Robert Herjavec however was interested and offered $175,000 for 50% equity. While Scott simply stated that he would not entertain the offer, Mona put her foot in her mouth saying that for 50%, Robert better be working on Eco Nuts “16 hours a day” like she and Scott do.
Insulted, Robert pulled his offer and went out.
Mark Cuban spoke next, criticizing the marketing and packaging, before ultimately going out. That last remaining shark, Barbara, agreed with her peers and went out.
With no offers from the sharks, the couple left
Eco Nuts debuted at the Natural Products Expo East in Baltimore later in 2012, where the 22,000 attendees voted it as the “Best New Green Product.” The company would go on to expand the line to include dryer balls, liquid detergents, skincare, beard care products, toothpaste, and more.
Sales climbed steadily over the years and, by 2021 Eco Nuts hit the $1 million mark. Despite all of this, the company went out of business in 2022 for unknown reasons.
This will be our final Eco Nuts update.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!